Business News

In Silicon Valley, Chinese 'accelerators' aim to bring startups home

NEW YORK/ SAN FRANCISCO (Reuters) - Beijing’s unslakeable thirst for the latest technology has spurred a proliferation of “accelerators” in Silicon Valley that aim to identify promising startups and bring them to China. An exterior view of the ZGC Innovation Center is seen in Santa Clara, California, April 12, 2018. Picture taken April 12, 2018. REUTERS/Stephen LamThe surge in the number of China-focus...

17 May 8:39 AM 0 Read More...

Asia oil thirst tab $1 trillion a year as crude rises to $80

SINGAPORE/MUMBAI/MANILA (Reuters) - Oil prices are poised to break through $80 per barrel and Asia’s demand is at a record, pushing the cost of the region’s thirst for crude to $1 trillion this year, about twice what it was during the market lull of 2015/2016. FILE PHOTO: Motorists drives past an electronic board at a gas station in Paranaque city, Metro Manila, the Philippines February 4, 2016. REUTERS/Erik ...

17 May 8:39 AM 0 Read More...

Volkswagen's core brand pulls out of Paris auto show

BERLIN (Reuters) - Volkswagen’s (VOWG_p.DE) core autos brand will skip the Paris motor show this year, the company said on Thursday, becoming the latest and most prominent carmaker to ditch the biennial industry gathering in the French capital. FILE PHOTO: A worker shines the grill of a Volkswagen car displayed on media day at the Paris auto show. September 30, 2016. REUTERS/Benoit Tessier/File PhotoSince the VW em...

17 May 8:39 AM 0 Read More...

Exclusive: RBS lawyers ask ex-staffer to destroy documents, DOJ informed

LONDON (Reuters) - Lawyers for Royal Bank of Scotland (RBS.L) asked an ex-employee to destroy confidential documents, according to a letter seen by Reuters, in a move which the former staffer’s lawyer said put him at risk of legal action by the U.S. government. FILE PHOTO: Morning commuters walk past a branch of the Royal Bank of Scotland (RBS) in London, Britain, November 4, 2011. REUTERS/Andrew Winning/File Phot...

17 May 8:39 AM 0 Read More...

George Soros' bet on Tesla could see other investors follow suit

NEW YORK (Reuters) - If Tesla Inc (TSLA.O) Chief Executive Elon Musk needs to raise even more money, there may be a way. FILE PHOTO: Soros Fund Management Chairman George Soros speaks during a panel discussion at the Nicolas Berggruen Conference in Berlin, October 30, 2012. REUTERS/Thomas Peter/File Photo On Tuesday billionaire investor George Soros disclosed a $35 million stake in Tesla convertible senior notes du...

17 May 3:34 AM 0 Read More...

Asian shares steady; euro hampered by Italian political risk

SINGAPORE (Reuters) - Asian shares held steady on Thursday, while the euro struggled near five-month lows set a day earlier following a report that Italian populist parties trying to form a coalition could ask the European Central Bank to forgive 250 billion euros of debt. FILE PHOTO: A panel displays a list of top active securities outside the Hong Kong Exchanges in Hong Kong, China February 28, 2018. REUTERS/Bobby...

17 May 3:34 AM 0 Read More...

Wall St. gains as small-cap Russell 2000 hits record

(Reuters) - Retail and technology stocks led Wall Street higher on Wednesday and the small-cap Russell 2000 hit a record peak, even as a rise in U.S. bond yields to an almost seven-year high suggested more competition for equities and investors fretted over geopolitics. Smaller companies continued this year’s trend of outperforming their larger rivals with the Russell 2000 reaching a record high. The index ended u...

16 May 10:34 PM 0 Read More...

Lachlan Murdoch to replace brother James as Fox CEO after Disney deal

(Reuters) - Twenty First Century Fox’s (FOXA.O) Chief Executive Officer James Murdoch will leave the company and be succeeded by brother Lachlan once the company sells off its TV and film assets to Walt Disney Co (DIS.N). FILE PHOTO: 21st Century Fox Executive Co-Chairmen Rupert Murdoch (L) and his son Lachlan attend the first day of the annual Allen and Co. media conference in Sun Valley, Idaho July 8, 2015. REUT...

16 May 10:34 PM 0 Read More...

ISS recommends votes against Facebook CEO Zuckerberg, 4 other directors

BOSTON (Reuters) - Proxy adviser Institutional Shareholder Services on Wednesday recommended investors withhold their support from five Facebook Inc directors, including Chief Executive Mark Zuckerberg and Chief Operating Officer Sheryl Sandberg, citing issues including the social media company’s lack of a formal nominating committee. FILE PHOTO: Facebook CEO Mark Zuckerberg speaks at Facebook Inc's annual F8 devel...

16 May 10:34 PM 0 Read More...

Rupert Murdoch's son Lachlan to become Fox CEO after Disney deal

(Reuters) - Twenty First Century Fox’s (FOXA.O) James Murdoch will be succeeded by his brother Lachlan as chief executive officer once the company’s TV and film assets are acquired by Walt Disney Co (DIS.N), Fox said on Wednesday. FILE PHOTO: 21st Century Fox Executive Co-Chairmen Rupert Murdoch (L) and his son Lachlan attend the first day of the annual Allen and Co. media conference in Sun Valley, Idaho July 8, ...

16 May 5:29 PM 0 Read More...